Big Data has been extensively talked about as a strategic imperative for brands. So far, the buzz has focussed around individual purchase data collected by retailers, banks and utilities, but what about FMCG brands?
Unsurprisingly, global FMCGs such as Unilever and P&G are now committing to using data as a strategic tool to drive their businesses.
P&G’s supersavvyme community recently won the Data Strategy Award for Proximity’s work on ‘Mums on a Mission’. The promotion used both social media and coupons to track their consumers’ path to purchase.
Unilever’s chief marketing office, Keith Weed, says: “We are already able to tell a consumer when he’s walking in the park (we know his location) on a hot day (we know what the weather is like there), where the nearest place is to buy a Magnum and send him a code for a discount.”
Smaller manufacturers are catching on too. Paterson’s Shortbread and Berberana Wine are now using data to gain a competitive advantage at low cost. As first movers in their categories they have the advantage, knowing competitors will need to invest heavily to catch up.